Crypto outflows remain strong: Crypto funds posted -$173 million in outflows last week, marking their 4th consecutive weekly withdrawal. This brings 4-week cumulative outflows to -$3.74 billion. Bitcoin led the selling with -$133 million in outflows last week, while Ethereum saw -$85 million. Crypto funds have now seen withdrawals in 11 out of the last 16 weeks. Since October 2025, -$8.5 billion has flowed out of US-listed spot Bitcoin ETFs alone. Sentiment is reaching extreme bearish levels.